Business schools and the future of Africa’s growth

With a predicted average growth rate at around 6 per cent in 2014, Africa is undoubtedly the world’s latest growth frontier. However, analysts believe that for this impressive growth to remain sustainable, and for it to open up opportunities that will erode the jobless growth trend in the continent, business schools in Africa need to provide the right quality and supply of management expertise.

The demand for this much needed management capacity is not in doubt as many young people seek this capacity either in local business schools or overseas. Data made available from the Graduate Management Admission Council show that 5,490 GMAT tests were taken in the African region in 2012-2013. This is more than recorded in eastern Europe, and just little lower than in Canada and Latin America.

Locally, except for a few business schools that have built synergies with reputable business schools across the globe or have adopted models that are responsive to the business and economy needs in Africa, analysts have doubt over the quality of the curricula and delivery of many management programmes provided by business schools in the region.

The overseas business schools that are keen on exploiting the increasing demand for business management programmes in Africa by having outposts in Africa are being criticized for the adoption of what has been dubbed a fly-in-fly-out model of curriculum delivery that is considered inadequate.

On the increasing number of youths that seek management education outside Africa, the fact that many stay back overseas, continues to create a gap in the supply of management capacity in Africa.

Experts believe that with a growing and huge youth population, Africa needs to deploy the youthful energies properly to ensure that its future populations are empowered with the management capacity required to drive growth. Rather than allow the search for qualitative management capacity to be only in the direction of overseas schools that may be above the financial means of many, governments, business groups and top African business leaders should collaborate to mould and endow reputable business and management schools across the continent.

Critics of many business management programmes run locally are quick to point out the much use of business case studies that are drawn from other climes. Doubts are also raised over the adequacy and competence of the faculty that delivers these programmes in many of the business schools. These critics point towards the need for business management educators to draw useful and instructive case studies from local environments. It is believed and rightly too that these domesticated cases studies are invaluable, as they respond appropriately to the challenges and realities of local business environments.

Governments should not sit back. In the case of Nigeria, the National Universities Commission(NUC) should ensure that the curricula run by the universities that offer MBA and other business management education programmes are reviewed constantly to ensure that the content and delivery of such meet the needs of the economy and business community. Business groups in the country should be proactive and lead the way in issues bordering on the content and relevance of local business management programmes.

We must state that the current wave of economic growth would be sustainable, and properly deliver the much needed growth in employment opportunities if only the existing and future business leaders are properly empowered to lead the expanding private sector economies across Africa.